What CAs need to know this week: 29 February 2016

A look ahead to some of the things happening in business, accountancy and politics this week.

BoE consumer and business lending data due

Following Bank of England Governor Mark Carney’s warning to G-20 finance ministers last Friday that cutting interest rates below zero could leave the global economy trapped in low growth, the BoE will publish several important figures this week. First up are UK mortgage approvals and consumer credit figures later today (29 February), which could show signs of optimism. Business lending figures are also due today. UK international reserves and foreign currency liquidity data is due on Thursday (3 March).

US set for Super Tuesday primaries

It’s Super Tuesday in the US this week (1 March) – the biggest single day of voting during the primaries. Eleven States will head to the polls to choose their presidential nominees, and after Donald Trump’s commanding win in Nevada, it could be a pivotal moment in his republican campaign. The latest polling puts Hilary Clinton ahead of Bernie Sanders in every Super Tuesday State except Vermont and Massachusetts, while Trump is the front runner in all but three States – Arkansas, Colorado and Texas.

Australia to decide interest rates

The Reserve Bank of Australia holds its board meeting on Tuesday (1 March) and is due to announce an interest rate decision later that day. The forecast is for Australia’s interest rates to be held at 2% - which would leave it unchanged at record lows for the last 10 months.

Manufacturing figures could show reasonable growth

A flood of manufacturing figures are due on Tuesday (1 March) from the UK and around the world. Markit’s purchasing managers’ index (PMI) for UK manufacturing is expected to show reasonable growth, while the release of China’s manufacturing PMI will give an important insight into the country’s economic recovery. Manufacturing figures are also due from the Eurozone and the US on the same day.